Greenply expects Rs 800 cr turnover from its JV with Samet by FY26

Leading plywood and laminates maker Greenply expects a turnover of Rs 750-800 crore by FY26 from its equal joint venture (JV) with Turkiye-based furniture hardware firm Samet, a top company official said on Friday.

Greenply expects 8-10 per cent volume growth in its core plywood business and 50-60 per cent in new medium-density fiberboard (MDF) business in the current fiscal, Joint Managing Director and CEO Manoj Tulsian said.

It also plans to set up one more plywood factory that may have an investment of about Rs 125 crore and enter new adjacent products through brand extension of Greenply, he added.

The Greenply-Samet JV has already commenced its manufacturing activities and commercial production at its Vadodara-based plant in Gujarat, which will not only cater to the growing domestic market but also explore export opportunities.

"We have planned an investment of close to Rs 250 crore," Tulsian told PTI.

The investment will be done in phases and only the first phase has been ...